Simple Changes #49
Help staff and residents to save and borrow with local credit unions
Problem
Wales has some of the highest levels of debts, with more than 17% of the population owing money, with young adults, people who rent their homes, large families and single parents at higher risk. Credit unions make it easy for local people to save and borrow low cost finance. They are key local institutions that help keep families and communities strong. When you invest in your local credit union you know it’s your neighbours or colleagues who are benefiting.
Simple Change
Public bodies can help by encouraging their own staff to join their local credit union – offering deduction facilities to enable direct and regular savings. Public bodies can also encourage local resident and increasingly micro businesses to join local credit unions. You can also explore ways of offering credit union collection points where you have strong footfall
Well-being goals you’ve contributed to
A Wales of Cohesive Communities
You have earned...
A Wales of Cohesive Communities
Attractive, viable, safe and well-connected communities
A Prosperous Wales
You have earned...
A Prosperous Wales
An innovative, productive and low carbon society which recognises the limits of the global environment and therefore uses resources efficiently and proportionately (including acting on climate change); and which develops a skilled and well-educated population in an economy which generates wealth and provides employment opportunities, allowing people to take advantage of the wealth generated through securing decent work.
